Brazil, Peru Likely To Sign
Energy Deal
BRASILIA - Brazilian and Peruvian presidents
are likely to ink an deal on energy
cooperation at their upcoming summit, said
Presidential Spokesman Marcelo Baumbach.
The summit is part of the arrangements under
the Brazil-Peru strategic partnership
launched in 2003.
"The agreement should set general rules for
the Brazilian participation in hydroelectric
projects in Peru and ensuring export of
surplus electricity to Brazil," Baumbach
said.
The deal will begin the process of
interconnecting the electricity networks of
the two countries and will contribute to
energy security of both, he added.
However, finalization of the agreement still
depends on the completion of certain
technical negotiations on the details of the
documents, said the spokesman.
Trade between Brazil and Peru reached 766
million U.S. dollars in the first quarter of
2010, up 48.7 percent year-on-year.
Bilateral trade more than quadrupled from
724 million U.S. dollars to 3.3 billion U.S.
dollars dollars from 2003 to 2008.
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